Commentary

D7.548 Gains from VCIPs—fund of funds

Corporate tax
Corporate tax | Commentary

D7.548 Gains from VCIPs—fund of funds

Corporate tax | Commentary

D7.548 Gains from VCIPs—fund of funds

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

If an insurance company invests in a VCIP which itself invests by way of a capital contribution in another VCIP, the first investment is looked through to the underlying investment in unquoted shares or securities1. This allows for investments in VCIPs which themselves invest in other such VCIPs on a 'fund of funds' basis.

The Treasury may make regulations that make provisions similar to

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